BitConnect investor alert issued in Ontario, Canada

April 18, 2018 mlmdetective 0

Three months after its collapse, the Ontario Securities Commission has issued an investor warning against BitConnect.BitConnect’s collapse was one of the more spectacular MLM cryptocurrency implosions, wiping $2.4 billion dollars off the BCC market cap.BCC is currently at $1.36 and still being traded (albeit less than $10,000 a day), which might have something to do with the Securities Commission’s alert.BitConnect manages the websites bitconnect.co and bitconnectcoin.co, where it claims to operate an online exchange platform known as the BCC Exchange.These sites offer multiple investment opportunities that include “mining”, “trading” and “staking” BitConnect Coin, which is also known as BCC Coin.BitConnect also claims…

Preliminary injunction entered against Chandler, Gatto & Dluca

April 17, 2018 mlmdetective 0

In yet another example of the “scam people and play dumb when caught” defense not working, a preliminary injunction has been granted against Scott Chandler, Louis Gatto and Thomas Dluca.The three defendants were sued by the FTC last month as top earners in the Bitcoin Funding Team, My7Network and JetCoin scams.After their assets were frozen via a Temporary Restraining Order, defendants Chandler and Gatto filed “you can’t sue us, we knew nothing!” objections.Thomas Dluca failed to file any response and appears to have gone into hiding.Chandler, Gatto and Pinkston’s objections were dismissed after the court conducted a review of evidence submitted by the…

EtherLink Review: LendConnect ICO lending Ponzi reboot

April 17, 2018 mlmdetective 0

EtherLink provide no information on their website about who owns or runs the business.The EtherLink website domain was first registered on April 5th, 2015.The domain registration details were last updated on April 5th, 2018, which is presumably when the domain’s new anonymous owner(s) took possession of it.If you click the “whitepaper” link on the EtherLink website, you’re presented with a whitepaper for “LendConnect v.3.0”:A visit to the LendConnect website reveals a March 19th “re-branding” announcement:Investors,Re-branding confirmed! All details will be released soon.From this we can surmise EtherLink is a reboot of LendConnect.LendConnect was an ICO lending Ponzi scheme launched in late…

AutoBTC Builder Review: Six-tier 2×2 matrix bitcoin Ponzi cycler

April 17, 2018 mlmdetective 0

AutoBTC Builder provide no information on their website about who owns or runs the business.The AutoBTC Builder website domain (“autobtcbuilder.com”) was privately registered on July 14th, 2017.A marketing video on the AutoBTC Builder website is hosted on a Vimeo account bearing the name “Gregory Aggesen”.Further research reveals Aggesen confirming he is the owner of AutoBTC Builder on Facebook:Aggesen’s Facebook history dates back to 2010, with promotion of the collapsed TVI Express pyramid scheme.More recently Aggesen was linked to the twice collapsed JetCoin Ponzi scheme.Read on for a full review of the AutoBTC Builder MLM opportunity.AutoBTC Builder ProductsAutoBTC Builder has no retailable…

USI-Tech permanently banned in North Carolina for securities fraud

April 17, 2018 mlmdetective 0

Despite management claiming to have ‘never had a problem in the USA and Canada‘, further evidence of USI-Tech’s non-compliance with US regulators continues to surface.The latest is confirmation the company failed to respond to a North Carolina securities fraud cease and desist.Following an internal investigation, North Carolina issued USI-Tech with a securities fraud cease and desist on February 16th.On February 22nd USI-Tech’s attorneys at Hart David Carson accepted service of the cease and desist.On March 11th, the same cease and desist was served on USI-Tech PO Box address in Dubai.Despite their lawyers being made aware of the notice, USI-Tech failed to…

Orion Token Review: ORN points ICO lending Ponzi scheme

April 16, 2018 mlmdetective 0

Orion Token provide no information on their website about who owns or runs the business.The Orion Token website domain (“oriontoken.com”) was privately registered on February 15th, 2018.As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.Orion Token ProductsOrion Token has no retailable products or services, with affiliates only able to market Orion Token affiliate membership itself.The Orion Token Compensation PlanOrion Token affiliates acquire pre-generated ORN points from the company’s anonymous owners.ORN points are sold to Orion Token affiliates for 30 cents to 80…

Exitus 500 Review: 3rd reboot of collapsed Exitus Network gifting scam

April 16, 2018 mlmdetective 0

Exitus 500 appears to have surfaced in late 2017. It is the third reboot of the already twice collapsed Exitus Network gifting scam.Exitus Network launched in 2014 as a six-tier gifting scheme.By 2016 Exitus Network had collapsed, prompting owner Paul Stevenson (right) to reboot the scam as Exitus Elite.Alexa traffic estimates show a sharp decline in activity throughout 2017.By mid 2017 the situation was dire, prompting Stevenson to purportedly expunge a number of Exitus Elite participants.It has been bought to my attention that a number of leaders/members are actively discouraging their existing team members NOT to renew their Exitus Elite membership…

Tecademics co-founder conflict leads to IQup sell off

April 16, 2018 mlmdetective 0

Tecademics launched in 2016 and pitched itself as a “college of internet marketing”.Despite not being recognized as a college by any authoritative body, Tecademics charged up to $10,000 in “tuition fees” for two-year courses.Less than two years from launch (meaning not one person had time to complete a $10,000 course), Tecademics has been sold off to an anonymous owner.Alexa traffic estimates for the Tecademics website show a steady decline throughout 2017.Despite bailing from Tecademics as interest (and sales) waned, founder and former CEO Chris Record maintainswhat makes him different is his focus on helping others first and making money second.The above…

Opulence Global Review: Global Wealth Trade beauty & health reboot

April 15, 2018 mlmdetective 0

Global Wealth Trade launched in 2005 with exclusive Feri fashion ranges spanning jewelry, handbags, watches, wallets and sunglasses.BehindMLM initially reviewed Global Wealth Trade in 2012, and again in 2013 following a compensation plan update.In late 2016 Global Wealth Trade expanded their product offering to include the Feri Flawless personal care range.In early 2018 the company introduced the Fountain of Life nutritional supplement.This was followed by a complete corporate re-branding, which saw Global Wealth Trade renamed to Opulence Global.In an interview with Ted Nuyten earlier this month, founder and CEO Ramin Mesgarlou (right) claimed the name-change was due to the company’s expanded focus.We…

Bizmo World Review: Lifehack voting app?

April 14, 2018 mlmdetective 0

The Bizmo World website states the company is “powered by Global Solutions Systems GmbH.Bizmo is a project of the Berlin-based company “Global Solutions Systems” (GSS).The company was founded in 2014 with the goal of developing and implementing systemic solutions that people around the world can use to develop themselves and lead a better and more successful life.The Global Solutions Systems website identifies Tomas Kluenner (right) as CEO of the company.Previously MLM companies Kluenner has promoted include Sisel and HappyLife World, a German cashback e-commerce opportunity.Read on for a full review of the Bizmo World MLM opportunity.Bizmo World ProductsBizmo World has no retailable…